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Qatar Stock Exchange on Sunday opened the week strong to break the 9,800 mark mainly on institutional buying support.
Buying was seen more pronounced in the telecom, transport and insurance sectors as the 20-stock gained for the fourth straight session by 0.14% to 9,805.61 points amid decline in trade turnover and volumes.
The Islamic stocks were seen declining vis-à-vis gains in the conventional ones in the bourse, which is however down 5.98% year-to-date.
Large cap equities witnessed some brisk buying in the market, where banking, industrials and telecom stocks together constituted about 79% of the total trading volume.
Market capitalisation rose 0.25% or more than QR1bn to QR530.41bn as large and midcap equities gained 0.44% and 0.06%; whereas micro and small caps fell 0.43% and 0.32% respectively.
The Total Return Index rose 0.14% to 15,864.83 points and All Share Index by 0.12% to 2,734.15 points; while Al Rayan Islamic Index fell 0.12% to 3,806.88 points.
Telecom stocks strengthened 0.95%, transport (0.44%), insurance (0.35%), banks and financial services (0.23%) and industrials (0.16%); even as realty and consumer goods fell 0.39% and 0.37% respectively.
More than 56% of the stock extended gains with major movers being Ooredoo, Vodafone Qatar, QNB, Commercial Bank, Mesaieed Petrochemical Holding, Gulf International Services, Qatar Insurance, Barwa, United Development Company, Gulf Warehousing and Nakilat; but Qatar Islamic Bank, Ezdan and Mazaya Qatar were seen bucking the trend.
Non-Qatari institutions turned net buyers to the extent of QR9.08mn compared with net sellers of QR4.38mn last Thursday.
The GCC (Gulf Cooperation Council) institutions were net buyers to the tune of QR4.35mn against net sellers of QR1.13mn on June 16.
Domestic institutions’ net buying increased to QR5.38mn compared to QR3.83mn the previous trading day.
Non-Qatari individual investors turned net buyers to the extent of QR1.41mn against net sellers of QR2.45mn last Thursday.
However, local retail investors turned net sellers to the tune of QR16.67mn compared with net buyers of QR3.67mn on June 16.
The GCC individual investors were net profit takers to the extent of QR3.55mn against net buyers of QR0.49mn the previous trading day.
Total trade volume fell 34% to 2.42mn shares, value by 32% to QR91.58mn and deals by 11% to 1,557.
There was 68% plunge in the transport sector’s trade volume to 0.1mn equities, 49% in value to QR4.27mn and 33% in transactions to 103.
The insurance sector’s trade volume plummeted 56% to 0.04mn stocks, value by 58% to QR2.62mn and deals by 21% to 61.
The real estate sector saw 55% shrinkage in trade volume to 0.29mn shares, 50% in value to QR6.2mn and 13% in transactions to 188.
The banks and financial services sector’s trade volume tanked 39% to 1.02mn equities, value by 37% to QR44.31mn and deals by 41% to 364.
The market witnessed 21% decline in the industrials sector’s trade volume to 0.46mn stocks, 40% in value to QR15.64mn and 10% in transactions to 419.
However, the telecom sector’s trade volume soared 39% to 0.43mn shares and value by 89% to QR13.99mn on more than doubled deals to 283.
The consumer goods sector reported 33% surge in trade volume to 0.08mn equities, 22% in value to QR4.54mn and 34% in transactions to 139.
In the debt market, there was no trading of treasury bills and government bonds.
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